User-friendly decentralized finance?
In these days of rapid cryptocurrency advancements, the average Joe sixpack wants a defi system that’s easy to get involved with: at least, that’s the philosophy behind new options to help noobs get involved in crypto.
Today, an unnamed person at NewsBTC reports on Samecoin, a platform that offers many of the benefits of decentralized finance to the average investor.
One of those benefits, as the writer notes, is the ability to keep control and custody of your capital. The ability to take transaction results from exchanges and put them in cold wallets is an excellent example of the kinds of functionality that are important in these platforms. Also, this writer talks about how cryptocurrencies are largely immune to a lot of the wrangling that’s done by national central banks, which can impact fiat currencies in a big way. That’s part of what makes this type of investing so popular with a certain crowd.
“DeFi can also be difficult to understand, especially for those new to the industry,” writes the NewsBTC reporter. “While adoption rates are growing—they aren’t what they could be. For true mass-market appeal, people also need a system that’s easy to understand and get started with.”
With Samecoin, users get transparent smart contracts and the potential for mining and staking and everything else that comes along with popular cryptocurrency investment strategy. Samecoin operates a set of stablecoins that are pegged to fiat currencies. The key here is transparency on the platform.
Think of cryptocurrency platforms like web design utilities. If you just stayed with the underlying HTML code, everything would be transparent, and the end user would be fully informed and in control. That’s how web design started out, but then editor programs started to add layers of abstraction, until most web designers weren’t working directly with HTML code much at all.
Samecoin hopes to bring some level of transparency back to the process. If you have interest in the exciting sector of crypto, pay attention to these advances, because they could turn out to be market movers of the highest order.
